Truth is, youth today does not appreciate classics the way us older folks did. Many of us grew up watching TV shows and cartoons that were produced 20-30 years before our time. Try showing some kid today a cartoon or movie older than 10 years old and will completely be turned off since it's not made in CGI or doesn't contain bathroom jokes. Unfortunately, this is the only way a classic will be understood for today's generation.
I remember watching the CHiPs (1977) reruns with my cousin in the late 1980s. We loved it back then, and ran to the T.V. whenever we heard the intro.
I wouldn't consider myself part of the Millennial generation since I was born in the early 1980s but, if the opinion of the general viewing audience is negative, then I'll definitely avoid this movie like the plague.
Besides, look at CHiPs '99 (1998); it wasn't bad, but it was poorly received at the time, and even that included the original cast.
It seems to me like the younger generation is pushing the envelope as to how close you can be to gay without actually being gay. The trailer didn't appeal to me at all. I have no interest in seeing Ponch and John putting their lips on each other's you-know-what. And then talking about it. And several other up-close views. That's not funny to me; that's just plain gay.